China is one of the most lucrative markets on the planet and Apple knows that. Over the past few years, we have seen the company steadily increase its presence in the People’s Republic and a new report says that the company wants to pour even more money into the country. Apple is going to build its first Asia-Pacific research and development center in China.

This has been confirmed by Apple CEO Tim Cook who is on his second tour to China in just four months. It goes to show just how much importance the company attaches to its ties with China and is working harder to further expand its presence in the market.

Reports from China’s state broadcaster mention that Cook has told one of China’s senior most officials – Vice Premier Zhang Gaoli – that the company’s new research and development center in China will be completed by the end of this year.

The confirmation follows a wish expressed by the head of China’s industry and technology regulator who told Cook earlier this year in May that he hoped Apple would expand its cooperation with China in research and development as well.

Another big move that Apple recently made in China was its $1 billion deal with ridesharing service Didi Chuxing, analysts believe that this was a move on the company’s part to appease Beijing.

Filed in Apple. Read more about and . Source: reuters